Lower rates, higher deductions, and revised itemized rules are among the significant changes for individual taxpayers under the One Big Beautiful Bill Act (OBBBA), signed on July 4, 2025. This article outlines the key updates and their implications for future tax planning.
The One Big Beautiful Bill Act introduces significant updates to both the state and local tax (SALT) deduction and the qualified business income (QBI) deduction. Understanding how the expanded SALT cap and permanent QBI deduction apply to individual taxpayer’s situation is essential for effective tax planning.
This article will provide a brief summary of the tax provisions in the OBBBA that impact businesses and will be followed by articles diving deeper into certain business provisions of the OBBBA to provide a more comprehensive overview with planning opportunities.
On July 4, 2025, the “One Big Beautiful Bill” (OBBB) was signed into law, which made permanent several provisions of the 2017 Tax Cuts and Jobs Act (TCJA), while expanding certain tax incentives. From an estate and gift tax perspective, the most significant change is a permanent increase to the estate, gift and generation-skipping transfer (GST) tax exemption amounts.
The One Big Beautiful Bill Act (the “OBBBA”) is landmark legislation passed on July 4, 2025 that has significant implications for individuals. The OBBB is comprehensive tax legislation and includes key changes to individual tax related provisions and incentives. Navigating these changes is complex, but understanding them is essential for effective tax planning.
Most dynasty trusts are now drafted as directed trusts. A directed trust is a trust that removes one or more powers or discretions traditionally held by the trustee and vests that power or discretion in a person who is either a special trustee or not a trustee at all.
The administration of Trade, Business & Fictitious Names (“DBA”) registrations in Delaware will be transitioning as of February 2nd , 2026. DBA Registrations will now be done through Division of Revenue through an online process and will apply statewide.
Making sense of U.S. taxes is no small feat—especially when you’re living across borders, juggling green cards, dual citizenships, and tax treaties. Whether you’re a globe-trotting entrepreneur, a recent immigrant, or an advisor guiding international clients, understanding the intricacies of U.S. income and transfer tax residency rules is essential.
Jephte Lanthia has been appointed to the board of directors of DC Youth Orchestra Program (DCYOP), a nonprofit organization dedicated to providing music education to children in the DMV area, regardless of socioeconomic and cultural backgrounds.
Settling an estate of a loved one is a daunting task, as navigating the estate tax rules in the US can be unfamiliar and challenging to anyone, especially when an estate’s assets span multiple countries.
Investment advisors play a critical role in managing the long-term success of dynasty trusts, which often hold a significant portion of a high-net-worth individual’s estate. As more families use directed trusts, investment decision-making is frequently delegated to a trusted advisor rather than the trustee. Understanding this role is key to ensuring alignment with the family’s long-term financial goals and generational wealth planning.
The operating units of a multinational corporation usually engage in a variety of intercompany transactions. For example, a U.S. corporation may sell its manufactured products abroad through foreign subsidiaries. The same U.S. corporation may also provide
